In the Telegraph today. Continues the story that began in Private Eye about Age UK inviting us to take out equity release with the help of its ‘Age Co UK Equity Release Advice Service’, provided by Hub Financial Solutions Ltd, owned by Just Group.
You can read the article for yourself, the crux of it is that, according to the article, Hub Financial routinely recommends equity release deals from its own parent company (i.e. Just).
While it makes clear that it offers only a selection of the plans sold by these firms, Telegraph Money can disclose that the way its advice process is structured means that in most cases a customer will be offered a deal by just one panel member – Just.
Precisely why the customer in most cases is offered the Just product is not disclosed. Hub claim that “The panel at any point reflects the attractiveness and competitiveness of each loan’s design, features, rate and service levels.” On the other hand, the Telegraph hints that “In 2016 Age UK was criticised by the Charity Commission for recommending an energy tariff, through a business partnership with E.On, which was not the cheapest available”.
Kevin and I are quoted.